Morocco to Feature Real Estate Projects, Crafts in Jeddah

Zakaria Oudrhiri is a journalist, translator, and coder based in Rabat.

Feb 22, 2019

Rabat – Moroccan real estate actors will hold a Morocco Property Expo in Jeddah in October. Moroccan real estate developers, investors, administrations and banks will attend the real estate investment and lifestyle fair.On an area of more than 3,000 square meters, the show will also bring together promoters of economic projects.The show will feature spaces for Moroccan crafts and its “art of living” for Saudi investors to discover.

The Moroccan community in Saudi Arabia is estimated at more than 50,000 people. The community is mainly made up of laborers, those in the liberal professions, spouses of Saudi nationals, and executives. For 89 percent of Moroccans living in Saudi Arabia, buying property in Morocco is “very important,” the show’s website says.

Moroccans living overseas send home an estimated MAD 5 billion per year.

In the fourth quarter of 2018, real estate transactions in Morocco jumped 12 percent from the third quarter of 2018. The central bank said real estate prices fell by 2.4 percent.

Morocco and Saudi Arabia recently started several working meetings to discuss options for economic cooperation in Africa, in the midst of doubts about recent tensions between the two long-time allies.